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Poland-backed “Joint Initiative on Circular Economy” reaches 8.9 billion euros

The EU’s largest public promotional banks and institutions including Polish Bank Gospodarstwa Krajowego (BGK) have made a decision to prolong the Joint Initiative on Circular Economy (JICE) beyond the original timeframe of 2023 (24 July).

In addition, the initiative has been opened to other interested European public promotional banks and institutions.

Launched in 2019, JICE aims to provide long-term financing for projects related to the transition to a circular economy. The participating JICE partners have set a financing target of at least 10 billion euros for circular economy projects by the end of 2023, i.e. over a five-year period.

At the end of last year, projects worth 8.9 billion euros were funded across a wide range of sectors, including agriculture, industry and services, mobility, urban development, waste and water management. Projects span all stages of the value chain and the life cycle of products and services, from design to value recovery.

“Circular economy projects have a big impact on sustainable development and the JICE initiative is doing a great job in mobilising that. We are open for new members, we want to share our know-how and scale up the impact of circular economy solutions,” said Beata Daszyńska-Muzyczka, President of BGK’s Management Board.

Polish recycling company Elemental Holding, which recovers strategic and rare metals, is among the recent companies and projects supported by JICE. The company are “leaders” in processing electrical and electronic equipment waste, autocatalytic converters, printed circuit boards and non-ferrous metals, the European Investment Bank (EIB) said via a press release.

Elemental Holding belongs to an “elite group” of European entities notified by the European Commission as part of the European Industrial Policy to create a sustainable mobility value chain in the EU, the EIB’s press release added.

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